NEOS Investment Management LLC Buys 4,807 Shares of The Allstate Corporation $ALL

Key Points

• NEOS Investment Management increased its Allstate stake by 12.8% in the second quarter, adding 4,807 shares to hold 42,236 shares valued at approximately $10.05 million. Institutional investors collectively own 76.47% of Allstate.
• Allstate insiders reduced their holdings through significant sales: COO Mario Rizzo sold 56,225 shares and insider John Dugenske sold 32,996 shares. Insiders now own 1.55% of the company.
• Allstate reported stronger-than-expected quarterly results, with $8.99 earnings per share and $18.60 billion in revenue, while declaring a quarterly dividend of $1.08 per share. Despite the performance, analysts maintain a consensus “Hold” rating with an average price target of $263.90.

NEOS Investment Management LLC grew its stake in shares of The Allstate Corporation (NYSE:ALL - Free Report) by 12.8% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 42,236 shares of the insurance provider's stock after acquiring an additional 4,807 shares during the quarter. NEOS Investment Management LLC's holdings in Allstate were worth $10,050,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of ALL. Brighton Jones LLC increased its position in shares of Allstate by 60.2% during the fourth quarter. Brighton Jones LLC now owns 6,500 shares of the insurance provider's stock valued at $1,253,000 after acquiring an additional 2,443 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in Allstate during the 4th quarter valued at $231,000. WINTON GROUP Ltd bought a new stake in shares of Allstate in the 2nd quarter worth $210,000. Treasurer of the State of North Carolina raised its stake in shares of Allstate by 2.5% in the second quarter. Treasurer of the State of North Carolina now owns 123,272 shares of the insurance provider's stock worth $24,816,000 after purchasing an additional 3,051 shares during the last quarter. Finally, Ieq Capital LLC raised its stake in shares of Allstate by 20.1% in the second quarter. Ieq Capital LLC now owns 38,316 shares of the insurance provider's stock worth $7,713,000 after purchasing an additional 6,412 shares during the last quarter. Hedge funds and other institutional investors own 76.47% of the company's stock.

Insiders Place Their Bets

In related news, insider John Dugenske sold 32,996 shares of Allstate stock in a transaction on Friday, August 7th. The shares were sold at an average price of $269.33, for a total transaction of $8,886,812.68. Following the transaction, the insider owned 13,054 shares in the company, valued at approximately $3,515,833.82. The trade was a 71.65% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Mario Rizzo sold 56,225 shares of the company's stock in a transaction on Tuesday, August 11th. The stock was sold at an average price of $264.48, for a total transaction of $14,870,388.00. Following the completion of the transaction, the chief operating officer directly owned 82,227 shares of the company's stock, valued at $21,747,396.96. This represents a 40.61% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 1.55% of the stock is currently owned by insiders.

Allstate Stock Down 1.4%

ALL stock opened at $259.43 on Friday. The Allstate Corporation has a twelve month low of $188.08 and a twelve month high of $277.22. The company has a quick ratio of 0.36, a current ratio of 0.36 and a debt-to-equity ratio of 0.24. The stock has a market cap of $65.60 billion, a P/E ratio of 5.18, a PEG ratio of 0.60 and a beta of 0.15. The business's 50-day moving average price is $256.91 and its 200-day moving average price is $228.76.

Allstate (NYSE:ALL - Get Free Report) last released its earnings results on Wednesday, August 5th. The insurance provider reported $8.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.06 by $2.93. Allstate had a net margin of 18.97% and a return on equity of 41.64%. The company had revenue of $18.60 billion during the quarter, compared to analyst estimates of $15.46 billion. During the same period in the prior year, the firm posted $5.94 EPS. The firm's quarterly revenue was up 11.8% compared to the same quarter last year. On average, equities research analysts forecast that The Allstate Corporation will post 35.5 EPS for the current year.

Allstate Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, August 31st will be given a dividend of $1.08 per share. This represents a $4.32 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Monday, August 31st. Allstate's dividend payout ratio (DPR) is presently 8.63%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALL. Mizuho raised their price target on shares of Allstate from $255.00 to $272.00 and gave the company an "outperform" rating in a report on Thursday, July 9th. Evercore set a $240.00 price objective on shares of Allstate in a report on Friday, July 10th. UBS Group raised their target price on shares of Allstate from $261.00 to $275.00 and gave the stock a "neutral" rating in a report on Monday, August 10th. Barclays lifted their target price on shares of Allstate from $213.00 to $226.00 and gave the stock an "underweight" rating in a research report on Thursday, August 6th. Finally, The Goldman Sachs Group reissued a "neutral" rating and set a $280.00 price target on shares of Allstate in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Strong Buy rating, five have given a Buy rating, nine have assigned a Hold rating and four have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $263.90.

Allstate News Roundup

Here are the key news stories impacting Allstate this week:

• Positive Sentiment: Allstate is included among insurers using artificial intelligence, data and technology to improve operating efficiency, underwriting and growth, which could support long-term margins and competitiveness. 3 Insurers to Add to Portfolio as AI Transforms Insurance Operations
• Positive Sentiment: A review of Allstate’s financial strength and earnings outlook suggests the company may merit renewed investor consideration, reinforcing the case for its profitability and balance-sheet position. Affirmed Financial Strength And Earnings Outlook Might Change The Case For Investing In Allstate
• Positive Sentiment: Allstate is highlighted as a value-oriented property-and-casualty insurer with premium growth, underwriting discipline and investment-portfolio gains. 3 P&C Insurers to Add for Better Returns in Sluggish September
• Positive Sentiment: Allstate is listed among low-beta, dividend-paying stocks that could offer defensive characteristics during September volatility, with improving earnings estimates cited as a supporting factor. Buy 5 Stocks to Stay Safe in Wall Street's Historically Worst Month
• Neutral Sentiment: Comparisons with Tokio Marine focus on relative valuation and value-investing characteristics rather than a new company-specific catalyst. ALL or TKOMY: Which Is the Better Value Stock Right Now?
• Neutral Sentiment: An Allstate driving-safety report ranking for Wichita provides local auto-insurance context but does not materially change the company’s financial outlook. How bad or good are Wichita drivers? See how the city ranks in Allstate report
• Negative Sentiment: Allstate shares have declined since the latest earnings report, prompting questions about whether the stock can rebound despite the company’s stronger-than-expected results. Allstate Down 4.4% Since Last Earnings Report: Can It Rebound?
• Negative Sentiment: A report that Tyler Perry paid an 81-year-old woman’s $18,000 repair bill after Allstate denied her claim could create reputational risk and renewed scrutiny of claims-handling practices, although it appears to be an isolated customer dispute. Tyler Perry pays 81-year-old woman's $18K repair bill after Allstate denies claim

About Allstate

Allstate Corporation is a publicly traded insurance company headquartered in Northbrook, Illinois, and is one of the largest personal lines property and casualty insurers in the United States. Founded in 1931 as a subsidiary of Sears, Roebuck and Co, Allstate has grown into a diversified insurer that serves millions of consumers and businesses through a mix of distribution channels and product offerings.

The company underwrites a broad range of insurance products, with primary emphasis on auto and homeowners coverage.

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